Mawson Infra Gr (NASDAQ:MIGI) Stock, Quote.Headers.trade-ideas

Mawson Infra Gr

Mawson Infrastructure Group Inc is a digital infrastructure provider, with diversified operations across Cryptocurrency Mining and Digital Asset Management. Its mission is to build a bridge between the rapidly emerging digital asset industry and traditional capital markets, with a focus on shareholder returns. The Company has three primary businesses; digital currency or Bitcoin self-mining, customer co-location and related services, and energy markets. It operates in a single segment surrounding its digital currency mining operation.

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In the wake of a more than 4% surge in Bitcoin’s (CRYPTO: BTC) price over the last 24 hours, stocks linked to the cryptocurrency have experienced a notable increase.

Bitcoin&#39;s Price Rebound Triggers Rally In Crypto-Linked Stocks As Expert Highlights &#39;Very Bullish Long Term&#39; Outlook

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Shares of U Power Limited  (NASDAQ: UCAR) shares moved lower during Monday’s session after the company announced pricing of registered follow-on offering of 10 million units at a purchase price of $1.20 per unit.

Why U Power Shares Are Trading Lower By Around 54%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Enfusion shares are trading higher after the company announced it is interviewing investment banks to explore options including a potential sale.

<p>It has been about a month since the last earnings report for <strong>Zoom Video Communications</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zm#NASDAQ">ZM</a>). Shares have lost about 1.7% in that time frame, underperforming the S&amp;P 500.</p>
<p>Will the recent negative trend continue leading up to its next earnings release, or is Zoom Video due for a breakout? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.</p>
<h3>Zoom Q2 Earnings Beat, Enterprise Customers Drive Revenues</h3>
<p>Zoom&#39;s second-quarter fiscal 2025 adjusted earnings of $1.39 per share beat the Zacks Consensus Estimate by 14.88% and increased 3.73% year over year.</p>
<p>Revenues of $1.16 billion beat the consensus mark by 1.22% and increased 2.09% year over year on strong growth from Enterprise customers. Adjusting for foreign currency impact, revenues in constant currency were $1.166 billion, up 2.4% year over year.</p>
<h3>Quarter Details</h3>
<p>Enterprise revenues were $682.8 million, up 3.5% year over year and represented 58.7% of total revenues. Customers contributing more than $100,000 in revenues in the trailing 12 months grew 7% to 3,933. These customers accounted for 31% of revenues, up from 29% in the year-ago quarter.</p>
<p>In the fiscal second quarter, as part of an effort to improve the customer experience and drive greater efficiency in operations, the company transitioned 26,800 Enterprise customers with low annualized revenue run rate&nbsp;to Online.</p>
<p>The number of Enterprise customers at the end of the second quarter, after accounting for the transition, was approximately 191,600.</p>
<p>The company reported a trailing 12-month net dollar expansion rate for Enterprise customers of 98%.</p>
<p>As of the end of the quarter under review, the cumulative number of Zoom Rooms licenses purchased was more than 2 million.</p>
<p>In the quarter, Zoom saw amazing traction with Workvivo as it reached 69 customers with more than $100,000 in ARR, roughly doubling year over year. Workvivo was named Meta Platform&#39;s only preferred migration partner for its customers as it retires Workplace from Meta.</p>
<p>ZM witnessed additional traction in Zoom Contact Center as it surpassed 1,100 Zoom Contact Center customers, representing more than 100% year-over-year growth. This was driven by its recently launched higher pricing tiers as well as its success in larger deals.</p>
<p>The company now has five customers with 100,000 or more Zoom Phone seats. Zoom AI Companion has grown significantly with more than 1.2 million customer accounts enabled as of date.</p>
<h3>Non-GAAP Operating Details</h3>
<p>Non-GAAP gross margin in the fiscal second quarter was 78.6%, which was slightly lower than 80.3% in the year-ago period, mainly due to investments in AI innovation.</p>
<p>Research and development expenses increased 7.8% year over year to $206.7 million. Sales and marketing expenses declined 3.9% to $358.7 million, while general and administrative expenses plunged 15.3% to $109.5 million.</p>
<p>Operating income rose 13.9% to $202.37 million year over year. The operating margin came in at 17.6% compared with the year-ago quarter&#39;s operating margin of 15.9%.</p>
<h3>Balance Sheet</h3>
<p>Total cash, cash equivalents and marketable securities, as of Jul 31, 2024, were $7.5 billion.&nbsp; As of Apr 30, 2024, cash, cash equivalents and marketable securities were $7.4 billion.</p>
<p>Net cash provided by operating activities was $449.3 million for the fiscal second quarter, up 33.7% year over year. Free cash flow was $365.1 million, up 26.2% year over year.</p>
<h3>Guidance</h3>
<p>Zoom expects third-quarter fiscal 2025 revenues between $1,162 million and $1,165 million.</p>
<p>Non-GAAP earnings per share are expected in the range of $1.29-$1.31.</p>
<p>For fiscal 2025, Zoom expects revenues in the range of $4.63-$4.64 billion.</p>
<p>Non-GAAP earnings per share are expected in the band of $5.29-$5.32.</p>
<h2>How Have Estimates Been Moving Since Then?</h2>
<p>It turns out, fresh estimates have trended upward during the past month.</p>
<p>The consensus estimate has shifted 12.46% due to these changes.</p>
<h2>VGM Scores</h2>
<p>At this time, Zoom Video has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.</p>
<p>Overall, the stock has an aggregate VGM Score of B. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.</p>
<h2>Outlook</h2>
<p>Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Zoom Video has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.</p>
<h2>Performance of an Industry Player</h2>
<p>Zoom Video is part of the Zacks Internet - Software industry. Over the past month, <strong>HubSpot</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hubs#NYSE">HUBS</a>), a stock from the same industry, has gained 6.7%. The company reported its results for the quarter ended June 2024 more than a month ago.</p>
<p>HubSpot reported revenues of $637.23 million in the last reported quarter, representing a year-over-year change of +20.4%. EPS of $1.94 for the same period compares with $1.34 a year ago.</p>
<p>For the current quarter, HubSpot is expected to post earnings of $1.89 per share, indicating a change of +18.9% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.</p>
<p>The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for HubSpot. Also, the stock has a VGM Score of B.</p>
<p><a href="https://www.zacks.com/stock/news/2339316/zoom-video-zm-down-1-7-since-last-earnings-report-can-it-rebound?cid=CS-BENZ-FT-realtime_blog-2339316">To read this article on Zacks.com click here.</a></p>


Earnings

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HUBS

Zoom Video Down 1.7% Since Last Earnings Report: Can It Rebound?

<p>Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) has outperformed the market over the past 20 years by 4.48% on an annualized basis producing an average annual return of 12.97%. Currently, Equifax has a market capitalization of $37.39 billion. </p>
<p><strong>Buying $1000 In EFX:</strong> If an investor had bought $1000 of EFX stock 20 years ago, it would be worth <strong>$11,290.99</strong> today based on a price of $302.19 for EFX at the time of writing.</p>
<h3>Equifax's Performance Over Last 20 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726857087_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


$1000 Invested In This Stock 20 Years Ago Would Be Worth $11,000 Today

<p>Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) has outperformed the market over the past 20 years by 16.43% on an annualized basis producing an average annual return of 24.91%. Currently, Deckers Outdoor has a market capitalization of $22.82 billion. </p>
<p><strong>Buying $1000 In DECK:</strong> If an investor had bought $1000 of DECK stock 20 years ago, it would be worth <strong>$85,940.67</strong> today based on a price of $149.68 for DECK at the time of writing.</p>
<h3>Deckers Outdoor's Performance Over Last 20 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726857082_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


DECK

Here's How Much $1000 Invested In Deckers Outdoor 20 Years Ago Would Be Worth Today

<p>Despite a wider market pullback, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40930136/expert-says-the-future-of-defi-will-be-shaped-by-fintechs-like-revolut-and-robinhood-not-w">total value locked (TVL) in DeF</a>i on <strong>Core</strong> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">CORE</a>), <strong>Bitcoin</strong> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Layer-2 blockchain, has grown significantly in the second quarter of 2024.</p>
<p><strong>What Happened: </strong>According to a Messari report, Core&#8217;s DeFi TVL grew by 1,032% in Q2, reaching $76.4 million. The blockchain&#8217;s native decentralized exchange (DEX) CoreX outperformed SushiSwap, a multi-chain DEX.</p>
<p>Non-custodial bitcoin staking, launched on Core's platform in April, saw 3,504 BTC, equivalent to $215 million, staked in Q2, broadening investor access and exposure to Core.</p>
<p>Valour, a subsidiary of DeFi Technologies, introduced a unique yield-bearing Core BTC exchange-traded product (ETP) to German investors on the Frankfurt stock exchange in June. This initiative offers users a 5.65% yield in addition to Bitcoin exposure.</p>
<p>Core and Valour have since listed other BTC ETPs on Sweden's Spotlight Stock Market and the London Stock Exchange.</p>
<p><figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure></p>
<p><strong>Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40734905/blockchain-core-foundation-launches-liquid-staking-token-pegged-against-bitcoin">Blockchain Core Foundation Launches Liquid Staking Token Pegged Against Bitcoin</a></strong></p>
<p><strong>Why it Matters: </strong>Secured by and aligned with Bitcoin, Core&#8217;s blockchain is unlocking over $1.25 trillion in trapped Bitcoin liquidity. The platform hosts over 100 Dapps, enabling Bitcoin holders to utilize their Bitcoin in innovative ways.</p>
<p>The significant growth in DeFi TVL and the introduction of non-custodial BTC staking underscore Core&#8217;s commitment to providing diverse investment opportunities and enhancing investor access. </p>
<p>The listing of BTC ETPs on various stock exchanges also reflects Core&#8217;s expanding global presence and its efforts to offer investors yield-bearing opportunities in addition to Bitcoin exposure.</p>
<p>Rich Rines, an Initial Contributor to Core, noted that demand for Bitcoin staking and Core DeFi is increasing, commenting, &#8220;The first quarter with live Non-Custodial Bitcoin Staking represents a new epoch for Bitcoin, powered by Core.&#8221; </p>
<p><strong>What&#8217;s Next</strong>: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.</p>
<p><strong>Read Next:&nbsp;</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40961891/blockchains-global-expansion-insights-from-an-interview-with-korea-blockchain-weeks-founde">Blockchain&#8217;s Global Expansion: Insights From An Interview With Korea Blockchain Week&#8217;s Founder</a></strong></li>
</ul>
<p><em>Image created using artificial intelligence with Midjourney.</em></p>


$CORE

Core Blockchain's DeFi TVL Skyrockets Over 1000%, Introduces Non-Custodial BTC Staking

<p>It has been about a month since the last earnings report for <strong>Wolfspeed</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wolf#NYSE">WOLF</a>). Shares have lost about 31.3% in that time frame, underperforming the S&amp;P 500.</p>
<p>Will the recent negative trend continue leading up to its next earnings release, or is Wolfspeed due for a breakout? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.</p>
<h3>Wolfspeed Reports Loss in Q4 Earnings, Revenues Down Y/Y</h3>
<p>Wolfspeed reported a fourth-quarter fiscal 2024 non-GAAP loss of 89 cents per share, wider than the Zacks Consensus Estimate of a loss of 84 cents per share but narrower than the year-ago quarter&#39;s loss of 36 cents per share.</p>
<p>Revenues of $200.7 million decreased 1% year over year but lagged the consensus mark by 0.2%. Mohawk Valley Fab contributed $41 million in revenues in the reported quarter.</p>
<p>Power Products accounted for 52.1%, while Materials Products contributed 47.9%. Power Products revenues decreased 2.3% year over year to $104.6 million. Materials Products revenues increased 0.5% year over year to $96.1 million.</p>
<p>Power device design-ins were $2 billion in the reported quarter. Quarterly design wins were $0.5 billion.</p>
<h3>Wolfspeed&#39;s Operating Details</h3>
<p>For the fiscal fourth quarter, Wolfspeed reported a non-GAAP gross margin of 5.4%, down from 30.7% reported in the year-ago quarter. Underutilization costs of $24 million negatively impacted gross margin in the reported quarter.</p>
<p>In the reported quarter, sales, general and administrative expenses were $60 million (29.9% of total revenues), up 37.6% year over year.</p>
<p>Research &amp; development expenses (30.7% of total revenues) increased 4.8% year over year to $61.6 million.</p>
<p>Wolfspeed incurred $20.5 million in factory start-up costs in the fourth quarter of fiscal 2024.</p>
<p>The company incurred a non-GAAP operating loss of $118.9 million, wider than the operating loss of $66.8 million in the year-ago quarter.</p>
<h3>WOLF&#39;s Balance Sheet &amp; Cash Flow</h3>
<p>As of Jun 30, 2024, WOLF had cash, cash equivalents and short-term investments of $2.17 billion compared with $2.55 billion as of Mar 31, 2024.</p>
<p>Long-term debt was $3.13 billion as of Jun 30, 2024.</p>
<p>Free cash outflow was $885.3 million, comprising $239.5 million of operating cash outflow and $644.2 million of capital expenditures.</p>
<h3>Guidance</h3>
<p>For first-quarter fiscal 2025, Wolfspeed expects revenues in the range of $185-$215 million. Non-GAAP loss is expected between 90 cents and $1.09 per share.</p>
<p>The company expects Mohawk Valley Fab to contribute nearly $20-$30 million in revenues in the first quarter of fiscal 2025.</p>
<p>It expects non-GAAP gross margin in the range of 13-20%. Non-GAAP operating expenses are expected to be $109 million, including $13 million of start-up costs.</p>
<h2>How Have Estimates Been Moving Since Then?</h2>
<p>In the past month, investors have witnessed a downward trend in fresh estimates.</p>
<p>The consensus estimate has shifted -11.14% due to these changes.</p>
<h2>VGM Scores</h2>
<p>At this time, Wolfspeed has a poor Growth Score of F, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.</p>
<p>Overall, the stock has an aggregate VGM Score of F. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.</p>
<h2>Outlook</h2>
<p>Estimates have been trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Wolfspeed has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.</p>
<p><a href="https://www.zacks.com/stock/news/2339315/why-is-wolfspeed-wolf-down-31-3-since-last-earnings-report?cid=CS-BENZ-FT-realtime_blog-2339315">To read this article on Zacks.com click here.</a></p>


WOLF

Why Is Wolfspeed Down 31.3% Since Last Earnings Report?

<p>A month has gone by since the last earnings report for <strong>Macy&#39;s</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>). Shares have added about 1.1% in that time frame, underperforming the S&amp;P 500.</p>
<p>Will the recent positive trend continue leading up to its next earnings release, or is Macy&#39;s due for a pullback? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.</p>
<h3>Macy&#39;s Q2 Earnings Beat Estimates, Comps Decline Y/Y</h3>
<p>Macy&#39;s has reported second-quarter fiscal 2024 results, wherein the top line lagged the Zacks Consensus Estimate while the bottom line surpassed the same. Total revenues declined and earnings increased from the year-ago quarter&#39;s reported figures. Comparable sales (comps) fell on an owned basis and an owned-plus-licensed basis.</p>
<h3>Sales &amp; Earnings Picture</h3>
<p>Macy&#39;s has reported adjusted earnings of 53 cents per share, surpassing the Zacks Consensus Estimate of 32 cents. Also, the bottom line increased from 23 cents in the year-ago period.</p>
<p>Net sales of $4,937 million missed the consensus estimate of $5,091 million. Also, the top line dipped 3.8% from the year-ago quarter. Comps fell 4% on an owned basis and 3.3% on an owned-plus-licensed-plus-marketplace basis from the prior-year quarter.</p>
<p>Macy&#39;s ongoing business comps, including both go-forward locations and digital platforms across all nameplates, decreased 3.8% on an owned basis and 3% when including owned, licensed and marketplace channels.</p>
<p>Net credit card revenues were $125 million, up 4.2% from the year-ago period. The metric represented 2.5% of sales, up 20 basis points from the year-ago quarter.</p>
<h3>Details by Brands</h3>
<p>Comps across Macy&#39;s declined 4.5% year over year on an owned basis and 3.6% on an owned-plus-licensed-plus-marketplace basis. At the Bloomingdale&#39;s brand, comps decreased 1.1% on an owned basis and 1.4% on an owned-plus-licensed-plus-marketplace basis. Comps at the Bluemercury brand rose 2% on an owned basis.</p>
<h3>Margins</h3>
<p>The gross margin was 40.5%. The metric increased 240 basis points from 38.1% in the prior-year quarter. The merchandise margin increased 210 basis points primarily due to reduced year-over-year discounting, favorable inventory shortages resulting from the company&#39;s asset protection efforts and M&#39;s transition to cost accounting.</p>
<p>Delivery expenses as a percentage of net sales improved year over year by 30 basis points, driven by lower shipped sales volumes and enhanced delivery expense management, reflecting cost-saving measures and process re-engineering initiatives.</p>
<p>The company reported selling, general and administrative (SG&amp;A) expenses of $1.97 billion, down 0.4% from $1.98 billion in the year-ago period. As a percentage of net sales, SG&amp;A expenses increased 140 basis points year over year to 40% on lower net sales.</p>
<p>Macy&#39;s reported an adjusted EBITDA of $438 million, up 26.2% from an adjusted EBITDA of $347 million in the year-ago quarter. We note that the adjusted EBITDA margin was 8.9%, up 210 basis points year over year.</p>
<h3>Other Financial Aspects</h3>
<p>M ended the fiscal second quarter with cash and cash equivalents of $646 million, long-term debt of $2.99 billion, and shareholders&#39; equity of $4.30 billion. Merchandise inventories rose 6% on a year-over-year basis. In the second quarter of fiscal 2024, Macy&#39;s provided cash from operating activities of $137 million.</p>
<h3>A Peek Into Guidance</h3>
<p>The company has revised its annual outlook to account for more cautious consumers and a more intense promotional environment than previously anticipated. This updated outlook is intended to provide the flexibility needed to navigate the continued uncertainty in the discretionary consumer market. M has reaffirmed its annual adjusted earnings per share outlook.</p>
<p>However, Macy&#39;s continues to see fiscal 2024 as a transitional and investment year, focusing on key strategic initiatives to improve customer experience. With the support of a strong balance sheet, the company will prioritize enhancing its gross margin and maintaining expense control to safeguard profitability amid ongoing macroeconomic challenges.</p>
<p>Net sales are projected to be $22.1-$22.4 billion, a slight reduction from the previously stated $22.3-$22.9 billion. Notably, the company reported net sales of $23.1 billion in fiscal 2023.</p>
<p>The outlook for comparable owned-plus-licensed-plus-marketplace sales on a 52-week basis has also been adjusted, with a projected year-over-year decline of 0.5-2%, down from the previously stated range between a drop of 1% and an increase of 1.5%.</p>
<p>Adjusted earnings per share are envisioned to be $2.55-$2.90 for fiscal 2024, implying a decline from the $3.50 earned in the prior year.</p>
<h2>How Have Estimates Been Moving Since Then?</h2>
<p>It turns out, fresh estimates have trended downward during the past month.</p>
<p>The consensus estimate has shifted -100% due to these changes.</p>
<h2>VGM Scores</h2>
<p>Currently, Macy&#39;s has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.</p>
<p>Overall, the stock has an aggregate VGM Score of A. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.</p>
<h2>Outlook</h2>
<p>Estimates have been broadly trending downward for the stock, and the magnitude of these revisions has been net zero. It&#39;s no surprise Macy&#39;s has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.</p>
<h2>Performance of an Industry Player</h2>
<p>Macy&#39;s belongs to the Zacks Retail - Regional Department Stores industry. Another stock from the same industry, <strong>Dillard&#39;s</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dds#NYSE">DDS</a>), has gained 6.1% over the past month. More than a month has passed since the company reported results for the quarter ended July 2024.</p>
<p>Dillard&#39;s reported revenues of $1.49 billion in the last reported quarter, representing a year-over-year change of -4.9%. EPS of $4.59 for the same period compares with $7.98 a year ago.</p>
<p>Dillard&#39;s is expected to post earnings of $6.47 per share for the current quarter, representing a year-over-year change of -30.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -4.2%.</p>
<p>Dillard&#39;s has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.</p>
<p><a href="https://www.zacks.com/stock/news/2339317/macy-s-m-up-1-1-since-last-earnings-report-can-it-continue?cid=CS-BENZ-FT-realtime_blog-2339317">To read this article on Zacks.com click here.</a></p>


Mid Cap

Retail Sales

Macy's Up 1.1% Since Last Earnings Report: Can It Continue?

BDRX

Biodexa Pharmaceuticals shares are trading lower. The company announced a ratio change on its ADRs from one ADS unit representing 400 ordinary shares to representing 10,000 ordinary shares.

Federal Reserve

Philadelphia Fed President Harker Said Fed Has Done A Good Job Navigating Economy

<p>Deep-pocketed investors have adopted a bullish approach towards Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NEM usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Newmont. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 75% leaning bullish and 25% bearish. Among these notable options, 5 are puts, totaling $1,067,840, and 11 are calls, amounting to $482,689.</p>
<h3>What's The Price Target?</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $47.5 to $60.0 for Newmont over the last 3 months. </p>
<h3>Volume &amp; Open Interest Development</h3>
<p>In today's trading context, the average open interest for options of Newmont stands at 7940.17, with a total volume reaching 9,484.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Newmont, situated within the strike price corridor from $47.5 to $60.0, throughout the last 30 days.</p>
<h3>Newmont 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726856293_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>NEM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$0.99</td>
<td>$0.95</td>
<td>$0.96</td>
<td>$47.50</td>
<td>$480.0K</td>
<td>6.9K</td>
<td>5.0K</td>
</tr>
<tr>
<td>NEM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$0.98</td>
<td>$0.95</td>
<td>$0.95</td>
<td>$47.50</td>
<td>$475.0K</td>
<td>6.9K</td>
<td>5.0K</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$1.74</td>
<td>$1.65</td>
<td>$1.65</td>
<td>$52.50</td>
<td>$81.7K</td>
<td>11.6K</td>
<td>1.0K</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.62</td>
<td>$2.52</td>
<td>$2.62</td>
<td>$55.00</td>
<td>$78.6K</td>
<td>3.3K</td>
<td>321</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$6.35</td>
<td>$6.25</td>
<td>$6.35</td>
<td>$50.00</td>
<td>$63.5K</td>
<td>3.8K</td>
<td>138</td>
</tr>
</tbody>
</table>
</p>
<h3>About Newmont</h3>
<p>Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 6.9 million ounces of gold in 2024. However, after buying Newcrest, Newmont is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.</p>
<p>Having examined the options trading patterns of Newmont, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance</p>
<h3>Newmont's Current Market Status</h3>
<ul>
<li>With a trading volume of 6,043,346, the price of NEM is up by 0.92%, reaching $54.02.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 34 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Newmont</h3>
<p>2 market experts have recently issued ratings for this stock, with a consensus target price of $61.5.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; An analyst from Argus Research has elevated its stance to Buy, setting a new price target at $58.<br />
&#x2A; Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Newmont with a target price of $65. </p>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Newmont with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Options

Smart Money Is Betting Big In NEM Options

<p>Whales with a lot of money to spend have taken a noticeably bullish stance on <strong>Home Depot</strong>.</p>
<p>Looking at options history for Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) we detected 8 trades.</p>
<p>If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 37% with bearish.</p>
<p>From the overall spotted trades, 2 are puts, for a total amount of $121,523 and 6, calls, for a total amount of $334,095.</p>
<h3>Predicted Price Range</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $355.0 to $400.0 for Home Depot during the past quarter. </p>
<h3>Volume &amp; Open Interest Development</h3>
<p>In terms of liquidity and interest, the mean open interest for Home Depot options trades today is 1236.88 with a total volume of 931.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Home Depot's big money trades within a strike price range of $355.0 to $400.0 over the last 30 days.</p>
<h3>Home Depot Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726856288_0.png" alt="Options Call Chart" /></p>
<h3>Significant Options Trades Detected:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>HD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$24.9</td>
<td>$23.75</td>
<td>$24.37</td>
<td>$365.00</td>
<td>$163.2K</td>
<td>1.5K</td>
<td style="text-align: right;">106</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$8.15</td>
<td>$7.9</td>
<td>$8.09</td>
<td>$390.00</td>
<td>$80.9K</td>
<td>189</td>
<td style="text-align: right;">120</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$16.6</td>
<td>$16.3</td>
<td>$16.3</td>
<td>$400.00</td>
<td>$40.7K</td>
<td>3.4K</td>
<td style="text-align: right;">40</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$3.35</td>
<td>$3.1</td>
<td>$3.1</td>
<td>$375.00</td>
<td>$40.6K</td>
<td>377</td>
<td style="text-align: right;">576</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$38.5</td>
<td>$38.05</td>
<td>$38.49</td>
<td>$360.00</td>
<td>$38.4K</td>
<td>1.2K</td>
<td style="text-align: right;">11</td>
</tr>
</tbody>
</table>
</p>
<h3>About Home Depot</h3>
<p>Home Depot is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the US, Canada, and Mexico. Its stores offer numerous building materials, home improvement products, lawn and garden products, and decor products and provide various services, including home improvement installation services and tool and equipment rentals. The acquisition of Interline Brands in 2015 allowed Home Depot to enter the MRO business, which has been expanded through the tie-up with HD Supply (2020). The additions of the Company Store brought textiles to the lineup, and Redi Carpet added multifamily flooring, while the recent tie-up with SRS will help grow professional demand.</p>
<p>In light of the recent options history for Home Depot, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Present Market Standing of Home Depot</h3>
<ul>
<li>Trading volume stands at 1,950,580, with HD's price up by 0.18%, positioned at $391.06.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 53 days.</li>
</ul>
<h3>What Analysts Are Saying About Home Depot</h3>
<p>Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $383.3333333333333.</p>
<p><strong>Turn $1000 into $1270 in just 20 days?</strong></p>
<p>20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; An analyst from Loop Capital persists with their Hold rating on Home Depot, maintaining a target price of $360.<br />
&#x2A; Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for Home Depot, targeting a price of $360.<br />
&#x2A; An analyst from DA Davidson persists with their Buy rating on Home Depot, maintaining a target price of $430. </p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Home Depot options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Behind the Scenes of Home Depot's Latest Options Trends

<p>Deep-pocketed investors have adopted a bearish approach towards Zillow Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in Z usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Zillow Gr. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 30% leaning bullish and 50% bearish. Among these notable options, 4 are puts, totaling $192,224, and 6 are calls, amounting to $369,411.</p>
<h3>Expected Price Movements</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $42.5 to $70.0 for Zillow Gr over the last 3 months. </p>
<h3>Volume &amp; Open Interest Development</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Zillow Gr's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Zillow Gr's substantial trades, within a strike price spectrum from $42.5 to $70.0 over the preceding 30 days.</p>
<h3>Zillow Gr 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726856282_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>Z</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.91</td>
<td>$1.8</td>
<td>$1.81</td>
<td>$70.00</td>
<td>$87.6K</td>
<td>3.0K</td>
<td style="text-align: right;">47</td>
</tr>
<tr>
<td>Z</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$14.75</td>
<td>$14.55</td>
<td>$14.66</td>
<td>$52.50</td>
<td>$73.3K</td>
<td>926</td>
<td style="text-align: right;">64</td>
</tr>
<tr>
<td>Z</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$1.4</td>
<td>$1.35</td>
<td>$1.35</td>
<td>$62.50</td>
<td>$67.5K</td>
<td>1.4K</td>
<td style="text-align: right;">9</td>
</tr>
<tr>
<td>Z</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$24.9</td>
<td>$24.7</td>
<td>$24.9</td>
<td>$42.50</td>
<td>$67.2K</td>
<td>327</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Z</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$8.15</td>
<td>$8.1</td>
<td>$8.1</td>
<td>$70.00</td>
<td>$66.4K</td>
<td>259</td>
<td style="text-align: right;">85</td>
</tr>
</tbody>
</table>
</p>
<h3>About Zillow Gr</h3>
<p>Zillow Group Inc is an Internet-based real estate company that offers its customers an on-demand experience for selling, buying, renting, or financing with transparency and ease The group works with real estate agents, brokers, builders, property managers, and landlords to pair technology with top-notch service. The group has brands such as Zillow, Trulia, StreetEasy, Hotpads, Zillow Rentals, Zillow Home Loans, ShowingTime, Follow Up Boss, Aryeo and others.</p>
<h3>Present Market Standing of Zillow Gr</h3>
<ul>
<li>With a trading volume of 2,423,245, the price of Z is up by 0.74%, reaching $68.34.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 40 days from now.</li>
</ul>
<h3>Expert Opinions on Zillow Gr</h3>
<p>In the last month, 1 experts released ratings on this stock with an average target price of $80.0.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; Showing optimism, an analyst from Wedbush upgrades its rating to Outperform with a revised price target of $80. </p>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Zillow Gr, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


Decoding Zillow Gr's Options Activity: What's the Big Picture?

<p><strong>SkyBridge Capital</strong> founder <strong>Anthony Scaramucci</strong>, a headline speaker at Benzinga&#8217;s Future of Digital Assets event, is actively working with a group of cryptocurrency advocates to shape U.S. Vice President <strong>Kamala Harris</strong>&#8216;s policies on digital assets <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40934959/anthony-scaramucci-says-donald-trump-is-a-polarizing-person-but-pulling-democrats-along-on">ahead of the 2024 elections</a>.</p>
<p><strong>What Happened</strong>: "There's a group of cryptocurrency advocates, bitcoin advocates etc. that are working alongside her to distance the Democratic Party away from Elizabeth Warren and [Gary Gensler],&#8221; he said at <strong>TOKEN2049 </strong>event on Thursday.</p>
<p>Scaramucci's involvement in Harris's campaign will take center stage during his upcoming appearance at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where he will join a panel to discuss the future of crypto regulation in the U.S. and beyond. </p>
<p>The event is expected to highlight key conversations around how digital assets are being positioned by political leaders in the run-up to the elections.</p>
<p>Scaramucci's team aims to sway Harris away from anti-crypto figures like Senator <strong>Elizabeth Warren</strong> and SEC Chair <strong>Gary Gensler</strong>, who have been leading voices in favor of strict regulations and crackdowns on the crypto industry. </p>
<p>According to Scaramucci, Harris has been engaging with crypto proponents and has discussions scheduled for the near future. </p>
<p>&#8220;I believe that we are making progress, and I think it's going in the right direction,&#8221; he said, optimistic about the vice president's willingness to consider industry-friendly policies.</p>
<p>While Harris's campaign team has yet to comment on these developments, Scaramucci's advocacy for her campaign signals an interesting shift in political strategy, especially given his past ties with former President <strong>Donald Trump</strong>. </p>
<p>Scaramucci, who served as Trump's Communications Director for six days in 2017, has since distanced himself, even calling Trump &#8220;a grifter&#8221; during a 2022 interview.</p>
<p><figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure></p>
<p><strong>Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40961791/the-biggest-crypto-crime-cases-in-2024-heists-frauds-and-multi-million-dollar-scams-shake-">The Biggest Crypto Crime Cases In 2024: Heists, Frauds, And Multi-Million Dollar Scams Shake The Industry</a></strong></p>
<p>Ironically, Trump has become a vocal supporter of the crypto industry in recent months. </p>
<p>During a keynote at the <strong>Bitcoin </strong>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Conference in Nashville this past July, Trump promised to protect federal Bitcoin holdings and hinted at plans to turn the U.S. into the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40734266/trump-promised-to-turn-the-u-s-into-the-crypto-capital-of-the-world-but-did-he-actually-fo">"crypto capital of the planet&#8221;</a>.</p>
<p>His family also recently launched World Liberty Financial, a project with ambitions to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">establish a crypto banking platform.</a></p>
<p>Despite his strained relationship with Trump, Scaramucci applauded the former president's stance on crypto, noting, &#8220;Whatever my feelings are about President Trump, I applaud him for understanding how important this industry is for the United States.&#8221; He also pointed out the unintended consequence: &#8220;Ironically, he's pulling the Democrats along into a centrist position on regulation.&#8221;</p>
<p>Scaramucci emphasized that he and other crypto insiders working with Harris want to ensure that digital asset policies don't become a partisan issue. "We want crypto in the U.S. to have a bipartisan standard unstrained from political and tribal conflicts," he said.</p>
<p>This ongoing political discourse will be a major focus of Scaramucci's panel at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where he'll discuss the future of crypto regulation alongside other industry leaders.</p>
<p><strong>Read Next: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40959531/oops-arthur-hayes-realizes-790-000-loss-on-this-ethereum-based-altcoin">Oops! Arthur Hayes Realizes $790,000 Loss On This Ethereum-Based Altcoin</a></strong></li>
</ul>
<p><em>Image: Shutterstock</em></p>


Anthony Scaramucci Backs Kamala Harris On Crypto Policy, Says 'It's Going In The Right Direction'

<p>U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite falling around 0.5% on Friday.</p>
<p>The Dow traded up 0.01% to 42,029.86 while the NASDAQ fell 0.53% to 17,917.95. The S&amp;P 500 also fell, dropping, 0.32% to 5,695.11.</p>
<p>Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40956889/jim-cramer-viking-therapeutics-has-many-ships-coming-in">Jim Cramer: Viking Therapeutics Has &#8216;Many Ships Coming In&#8217;</a></p>
<p><strong>Leading and Lagging Sectors</strong><br /><br />Utilities shares jumped by 2.3% on Friday.</p>
<p>In trading on Friday, industrials shares fell by 0.6%.</p>
<p><strong>Top Headline</strong></p>
<p>The total number of active U.S. oil rigs came in unchanged at 488 rigs this week, Baker Hughes Inc reported.</p>
<p><strong>Equities Trading UP</strong><br />&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<ul>
<li><strong>Banzai International, Inc. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNZI#NASDAQ">BNZI</a>) shares shot up 87% to $5.36. Banzai International recently announced a 1-for-50 reverse stock split.</li>
<li>Shares of <strong>Battalion Oil Corporation </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BATL#NYSE">BATL</a>) got a boost, surging 122% to $6.54 after the company announced it has amended its merger agreement with Fury Resources for the acquisition of all outstanding shares of Battalion at $7.00 per share in cash.</li>
<li><strong>Constellation Energy Corporation </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) shares were also up, gaining 19% to $248.26 after the company announced it signed a 20-year power purchase agreement with Microsoft that will help launch the Crance Clean Energy Center and restart Three Mile Island Unit 1.</li>
</ul>
<p><strong>Equities Trading DOWN</strong></p>
<ul>
<li><strong>Corbus Pharmaceuticals Holdings, Inc. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) shares dropped 60% to $20.52. RBC Capital analyst Brian Abrahams reiterated Corbus Pharmaceuticals with an Outperform rating and maintained the price target of $82.</li>
<li>Shares of <strong>Sable Offshore Corp. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOC#NYSE">SOC</a>) were down 19% to $23.06 after the company announced a $150 million private placement of 7.50 million shares.</li>
<li><strong>FedEx Corporation </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) was down, falling 13% to $260.55 as the company reported weaker-than-expected results for the first quarter of fiscal 2025 and lowered its full-year guidance.</li>
</ul>
<p><strong>Commodities</strong><br /><br />In commodity news, oil traded up 0.6% to $72.38 while gold traded up 1.4% at $2,650.00.</p>
<p>Silver traded up 0.5% to $31.62 on Friday, while copper fell 0.1% to $4.3425.</p>
<p><strong>Euro zone</strong></p>
<p>European shares closed lower today. The eurozone's STOXX 600 fell 1.42%, Germany's DAX declined 1.49% and France's CAC 40 fell 1.51%. Spain's IBEX 35 Index slipped 0.21%, while London's FTSE 100 fell 1.19%.</p>
<p>Spain&#8217;s trade deficit narrowed to EUR 3.2 billion in July from EUR 4.9 billion in the year-ago month. The manufacturing climate indicator in France slipped to 98.6 in September from 98.9 in the prior month.</p>
<p>Retail sales in the UK rose 1% month-over-month in August compared to revised 0.7% gain in July. Producer prices in Germany fell by 0.8% year-over-year in August.</p>
<p><strong>Asia Pacific Markets</strong></p>
<p>Asian markets closed higher on Friday, with Japan's Nikkei 225 gaining 1.53%, Hong Kong's Hang Seng Index surging 1.36%, China's Shanghai Composite Index gaining 0.03% and India's BSE Sensex gaining 1.63%.</p>
<p>Foreign exchange reserves held by the Reserve Bank of India climbed to $689.5 billion as of Sept. 13. The annual inflation rate in Hong Kong came in flat at 2.5% in August, while Hong Kong&#8217;s current account surplus increased to HKD 101.03 billion in the second quarter from HKD 50.71 billion in the year-ago period. The Bank of Japan kept its key short-term interest rate unchanged at around 0.25% during its recent meeting.</p>
<p><strong>Economics</strong></p>
<p>The total number of active U.S. oil rigs came in unchanged at 488 rigs this week, Baker Hughes Inc reported.</p>
<p><strong>Now Read This: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40956962/top-3-financials-stocks-that-may-rocket-higher-this-quarter">Top 3 Financials Stocks That May Rocket Higher This Quarter</a></strong></li>
</ul>


Equities

Eurozone

Commodities

BATL

BNZI

CRBP

Crude Oil Moves Higher; Sable Offshore Shares Slide

<p>It has been about a month since the last earnings report for <strong>Urban Outfitters</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/urbn#NASDAQ">URBN</a>). Shares have added about 0% in that time frame, underperforming the S&amp;P 500.</p>
<p>Will the recent positive trend continue leading up to its next earnings release, or is Urban Outfitters due for a pullback? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.</p>
<h3>Urban Outfitters Q2 Earnings Top Estimates, Retail Sales Up Y/Y</h3>
<p>Urban Outfitters reported impressive results for second-quarter fiscal 2025, wherein the bottom and top lines surpassed the Zacks Consensus Estimate. Also, both metrics improved from the prior-year quarter.</p>
<h3>URBN&#39;s Q2 Performance</h3>
<p>This lifestyle specialty retailer delivered earnings per share of $1.24, surpassing the Zacks Consensus Estimate of 98 cents. Also, the bottom line increased 12.7% from the comparable quarter of the prior fiscal year.</p>
<p>Total net sales increased 6.3% year over year to $1,351.9 million, surpassing the consensus estimate of $1,338 million.</p>
<p>Total net sales in the Retail segment rose 3.1%, with comparable net sales in this segment increasing 2%. This growth was primarily fueled by low single-digit positive gains in both digital channel sales and sales from retail stores. Specifically, comparable Retail net sales rose 7.1% at Free People and 6.7% at Anthropologie but fell 9.3% at Urban Outfitters.</p>
<p>In the Wholesale segment, net sales grew 15.1% year over year, primarily due to a 17.5% rise in Free People&#39;s wholesale sales, which was attributed to increased sales to department stores and specialty customers. This was, however, somewhat offset by a decline in Urban Outfitters&#39; wholesale sales.</p>
<p>The Nuuly segment saw a significant 62.6% increase in net sales mainly due to a 55% rise in average active subscribers from the prior-year quarter.</p>
<h3>Margin Insights of URBN</h3>
<p>Gross profit rose 8.3% from the prior-year quarter to $493.3 million. Also, the gross margin expanded 68 basis points (bps) to 36.5%, mainly owing to higher initial merchandise markups across all brands primarily due to the company&#39;s cross-functional initiatives. This increase was somewhat mitigated by higher Retail segment merchandise markdowns, particularly at the Urban Outfitters brand.</p>
<p>Selling, general and administrative (SG&amp;A) expenses were up 7.6% year over year to $348.2 million. The increase was mainly due to higher marketing expenses aimed at boosting customer traffic and sales in the Retail and Nuuly segments, as well as increased payroll costs to support the growth in comparable sales at Retail segment stores. As a percentage of net sales, SG&amp;A deleveraged 32 bps to 25.6%, mainly due to the Urban Outfitters brand&#39;s inability to reduce expenses at the same pace as its net sales.</p>
<p>URBN recorded an operating income of $145.1 million, up 9.9% from $132.1 million in second-quarter fiscal 2025. As a rate of sales, the operating margin increased 36 bps year over year to 10.7%.</p>
<h3>URBN Store Details</h3>
<p>In the fiscal second quarter, the company opened 11 retail locations, which included one Urban Outfitters store, three Anthropologie stores and seven Free People stores (including six FP Movement stores). Additionally, it closed five retail locations, which included two Urban Outfitters stores, two Anthropologie stores and one Free People store.</p>
<p>As of Jul 31, 2024, URBN operated 263 Urban Outfitters stores in the United States, Canada and Europe and websites; 239 Anthropologie Group stores in the United States, Canada and Europe, catalogs and websites; 205 Free People stores (including 45 FP Movement stores) in the United States, Canada and Europe, catalogs and websites; nine Menus &amp; Venues restaurants; seven Urban Outfitters franchisee-owned stores; and two Anthropologie Group franchisee-owned stores.</p>
<h3>Financial Details of URBN</h3>
<p>Urban Outfitters ended the quarter with cash and cash equivalents of $209.1 million and a total shareholders&#39; equity of $2.24 billion. As of July 31, 2024, the total inventory was up 3.1% year over year. Total Retail segment inventory increased 3.1%, with the Retail segment&#39;s comparable inventory declining 1.3%. The Wholesale segment&#39;s inventory increased 3.5%.</p>
<p>URBN provided net cash of $163.8 million from operating activities as of July 31, 2024. During the six months ended July 31, 2024, the company repurchased and subsequently retired 1.2 million shares at a total cost of approximately $52 million. As of the same date, 18 million common shares remained available for repurchase under the program.</p>
<h3>URBN&#39;s Outlook</h3>
<p>URBN expects total company sales growth in the mid-single digits for the third quarter, driven by a combination of low-single-digit growth in its Retail segment, low-teen growth in the Wholesale segment and strong mid-double-digit growth in its Nuuly segment.</p>
<p>However, the company anticipates a 100 basis point decline in the gross margin for the third quarter, primarily due to higher markdowns to clear inventory, a result of recent sales trends. Despite this, URBN is optimistic about gross margin improvement in the fourth quarter, aiming for a full-year improvement in the range of 50-100 basis points from the previous year. This expected improvement is largely attributed to better inventory alignment and reduced markdowns, particularly within the Urban Outfitters brand.</p>
<p>In terms of physical stores, URBN is set to open approximately 57 new stores and close around 25 stores in fiscal 2025, with a focus on expanding the FP Movement, Free People and Anthropologie brands. The company also plans to optimize its retail footprint, especially for Urban Outfitters, by resizing stores and considering relocations or closures of underperforming locations.</p>
<p>Capital expenditures for fiscal 2025 are planned at approximately $210 million.</p>
<h2>How Have Estimates Been Moving Since Then?</h2>
<p>In the past month, investors have witnessed a downward trend in fresh estimates.</p>
<p>The consensus estimate has shifted -18.16% due to these changes.</p>
<h2>VGM Scores</h2>
<p>At this time, Urban Outfitters has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.</p>
<p>Overall, the stock has an aggregate VGM Score of A. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.</p>
<h2>Outlook</h2>
<p>Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Urban Outfitters has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.</p>
<h2>Performance of an Industry Player</h2>
<p>Urban Outfitters is part of the Zacks Retail - Apparel and Shoes industry. Over the past month, <strong>Tapestry</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpr#NYSE">TPR</a>), a stock from the same industry, has gained 6.6%. The company reported its results for the quarter ended June 2024 more than a month ago.</p>
<p>Tapestry reported revenues of $1.59 billion in the last reported quarter, representing a year-over-year change of -1.8%. EPS of $0.92 for the same period compares with $0.95 a year ago.</p>
<p>For the current quarter, Tapestry is expected to post earnings of $0.95 per share, indicating a change of +2.2% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.</p>
<p>The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Tapestry. Also, the stock has a VGM Score of A.</p>
<p><a href="https://www.zacks.com/stock/news/2339320/why-is-urban-outfitters-urbn-up-0-since-last-earnings-report?cid=CS-BENZ-FT-realtime_blog-2339320">To read this article on Zacks.com click here.</a></p>


URBN

Why Is Urban Outfitters Up 0% Since Last Earnings Report?

<p>The <strong>Illinois Supreme Court</strong> ruled Thursday that the smell of burnt <a href="http://benzinga.com/cannabis">cannabis</a> alone does not give police officers the right to conduct a warrantless search of a vehicle. <strong>Justice P. Scott Neville Jr.</strong> delivered the unanimous opinion, citing changes in <a href="https://www.benzinga.com/markets/cannabis/19/05/13843713/illinois-to-become-11th-state-to-legalize-recreational-marijuana">Illinois&#8217; cannabis laws</a>.</p>
<p>&#8220;We hold that the odor of burnt cannabis alone is insufficient to provide probable cause for police officers to perform a warrantless search of a vehicle,&#8221; Justice Neville wrote, <a href="https://www.cbsnews.com/chicago/news/smell-of-weed-probable-cause-search-vehicle-illinois-supreme-court/">according</a> to CBS News. &#8220;We also hold that the totality of the facts and circumstances known to Officer Combs did not provide probable cause to search Redmond&#8217;s vehicle.&#8221;</p>
<h2 class="wp-block-heading"><strong>How Ryan Redmond's Traffic Stop Led To A Cannabis Possession Charge</strong></h2>
<p>The case involved <strong>Ryan Redmond</strong>, who was pulled over by <strong>Illinois State Police Officer Hayden Combs</strong> in 2020. When Redmond rolled down his window, Officer Combs reported smelling burnt marijuana. However, despite noting that Redmond showed no signs of impairment and finding no evidence of cannabis being smoked in the car, Combs searched the vehicle. <a href="https://www.benzinga.com/markets/cannabis/24/01/36593012/is-cannabis-odor-sufficient-cause-for-a-legal-vehicle-search-illinois-supreme-court-will-decide">He discovered one gram of marijuana</a> in a plastic bag in the center console, leading to Redmond being charged with unlawful possession.</p>
<h3 class="wp-block-heading"><strong>Probable Cause Not Met In Redmond's Case</strong></h3>
<p>The court highlighted that Combs&#8217; stop of Redmond was initially for a non-related traffic issue—an improperly secured license plate. Furthermore, the justice pointed out that Combs lacked evidence of impairment or illegal conduct beyond the cannabis odor. This, Neville noted, did not meet the threshold for probable cause required for a vehicle search.</p>
<p>In their ruling, the justices underscored that legal changes in Illinois, <a href="https://www.benzinga.com/markets/cannabis/19/05/13843713/illinois-to-become-11th-state-to-legalize-recreational-marijuana">which legalized marijuana in 2020</a>, have altered the implications of detecting cannabis scent, noted CBS News. They argued that the presence of the odor alone, without further evidence of illegality, cannot justify the infringement on individual privacy rights.</p>
<p><strong>Justice Lisa Holder White</strong> did not participate in the ruling, which was otherwise unanimous.</p>
<h2 class="wp-block-heading"><strong>Other States Reevaluate Cannabis Search Laws</strong></h2>
<p>Moreover, this ruling not only impacts <a href="http://benzinga.com/topic/illinois-cannabis">Illinois</a> but also echoes a growing trend in other states where courts are reevaluating law enforcement practices in the wake of marijuana legalization. States such as <a href="https://www.benzinga.com/markets/cannabis/23/09/34550072/marijuana-odor-not-enough-for-car-searches-rules-minnesota-supreme-court">Minnesota</a> and <a href="https://www.benzinga.com/markets/cannabis/24/01/36762322/maryland-republicans-want-to-repeal-law-preventing-cops-from-searching-cars-based-on-cannabis-sm">Maryland</a> have enacted similar measures, reinforcing the shift towards greater privacy protections for cannabis users.</p>
<h3 class="wp-block-heading"><strong>Cannabis Sales Vs. Justice: Who&#8217;s Slower In Illinois?</strong></h3>
<p>Amid these legal developments, Illinois <a href="http://benzinga.com/topic/cannabis-sales">cannabis sales</a> continue to show slow growth. In August 2024, adult-use sales reached $147.4 million, up 2.8% from July, with year-to-date sales increasing 7.3% to $1.14 billion, <a href="https://www.newcannabisventures.com/illinois-cannabis-sales-growth-remains-slow/">according</a> to New Cannabis Ventures. Combined with medical sales, which grew 0.7% sequentially to $23.5 million, total August cannabis sales hit $170.9 million.</p>


Cannabis

Government

Regulations

Smell Of Cannabis Is Not Enough For Warrantless Car Searches, Illinois Supreme Court Rules

<p>It has been about a month since the last earnings report for <strong>Synopsys</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snps#NASDAQ">SNPS</a>). Shares have lost about 6.2% in that time frame, underperforming the S&amp;P 500.</p>
<p>Will the recent negative trend continue leading up to its next earnings release, or is Synopsys due for a breakout? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.</p>
<h3>Synopsys Q3 Earnings Beat Estimates, Revenues Rise Y/Y</h3>
<p>Synopsys reported better-than-expected earnings for the third quarter of fiscal 2024. The company&#39;s fiscal third-quarter non-GAAP earnings per share of $3.43 surpassed the Zacks Consensus Estimate of $3.28. The bottom line improved 27% year over year, primarily driven by higher revenues and better cost management.</p>
<p>Revenues jumped 13% year over year to $1.53 billion and came in line with the Zacks Consensus Estimate. The top line was driven by growth across multiple business segments.</p>
<p>Synopsys&#39; revenue growth was driven by ongoing investments from semiconductor and systems companies in its solutions to enhance its R&amp;D capabilities.</p>
<p>Synopsys revealed that it has presented the Software Integrity business as a discontinued operation in its consolidated financial statements for all periods due to its ongoing divestment. Notably, the company has agreed to sell its Software Integrity business to Clearlake Capital and Francisco Partners in a deal worth $2.1 billion.</p>
<h3>Quarter in Detail</h3>
<p>In the license-type revenue group, Time-Based Product revenues (52.6% of the total revenues) of $803.1 million were down by 2.9% year over year. Upfront Product revenues (29%) moved upward by 51.2% to $442.5 million. Maintenance and Service revenues (18.4%) increased 19.5% to $280.1 million from the year-ago quarter&#39;s $234.3 million.</p>
<p>Segment-wise, Electronic Design Automation (&quot;EDA&quot;) revenues (66.9% of revenues) were $1.02 billion, up 4.9% year over year. Design IP revenues (30.4% of revenues) amounted to $463.1 million. Other revenues were $42.5 million, representing 2.7% of the total revenues.</p>
<p>Geographically, Synopsys&#39; revenues in North America (44% of the total) and Europe (9%) were $672.6 million and $144.6 million, respectively. Revenues from Korea (13%), China (17%) and other (16%) were $194.8 million, $266.7 million and $247 million, respectively.</p>
<p>The non-GAAP operating margin was 40%, expanding 360 basis points (bps) year over year.</p>
<p>Synopsys&#39; EDA&#39;s adjusted operating margin rose 70 bps to 41.5%. The Design IP segment&#39;s margin showed a massive improvement to 36.7% from 23.6% in the year-ago quarter.</p>
<h3>Balance Sheet &amp; Cash Flow</h3>
<p>Synopsys had cash and short-term investments of $1.99 billion as of Jul 31, 2024, compared with $1.66 billion as of Apr 30, 2024.</p>
<p>The total long-term debt was $15.6 million at the end of the reported quarter, which decreased from $17 million reported in the previous quarter.</p>
<p>The company&#39;s cash flow from operating activities, including discontinued operations, was $844.2 million in the first nine months compared with the year-ago quarter&#39;s cash flow of $1.37 billion.</p>
<h3>Guidance Update</h3>
<p>For fiscal 2024, SNPS expects revenues between $6.105 billion and $6.135 billion compared with the previously announced guidance of $6.09-$6.15 billion. Non-GAAP earnings are expected in the range of $13.07-$13.12 compared with the previous guidance of $12.9-$12.98. Non-GAAP expenses are now expected in the range of $3.76-$3.77 billion compared with the previously projected range of $3.77-$3.81 billion.</p>
<p>For the fourth quarter of fiscal 2024, Synopsys expects revenues between $1.614 billion and $1.644 billion. Management estimates non-GAAP EPS between $3.27 and $3.32. Non-GAAP expenses are anticipated in the band of $1.027-$1.037 billion.</p>
<h2>How Have Estimates Been Moving Since Then?</h2>
<p>It turns out, fresh estimates flatlined during the past month.</p>
<p>The consensus estimate has shifted -5.87% due to these changes.</p>
<h2>VGM Scores</h2>
<p>Currently, Synopsys has a subpar Growth Score of D, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.</p>
<p>Overall, the stock has an aggregate VGM Score of F. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.</p>
<h2>Outlook</h2>
<p>Synopsys has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.</p>
<p><a href="https://www.zacks.com/stock/news/2339319/synopsys-snps-down-6-2-since-last-earnings-report-can-it-rebound?cid=CS-BENZ-FT-realtime_blog-2339319">To read this article on Zacks.com click here.</a></p>


Management

SNPS

Synopsys Down 6.2% Since Last Earnings Report: Can It Rebound?

<p>It has been about a month since the last earnings report for <strong>Nordson</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ndsn#NASDAQ">NDSN</a>). Shares have added about 1.6% in that time frame, underperforming the S&amp;P 500.</p>
<p>Will the recent positive trend continue leading up to its next earnings release, or is Nordson due for a pullback? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.</p>
<h3>Nordson Beats on Q3 Earnings, Sales Rise Y/Y</h3>
<p>Nordson&#39;s third-quarter fiscal 2024 (ended Jul 31, 2024) adjusted earnings of $2.41 per share surpassed the Zacks Consensus Estimate of $2.33. The bottom line decreased 6% year over year.</p>
<h3>Quarterly Results of Nordson</h3>
<p>Nordson&#39;s revenues were $661.6 million, up 2% from the year-ago fiscal quarter&#39;s number driven by solid momentum in the Industrial Precision Solutions segment. Revenues beat the Zacks Consensus Estimate of $655 million.</p>
<p>Organic sales declined 1% year over year due to softness in the electronics and medical product lines. Acquisitions had a positive impact of 4% while foreign currency translation had a negative impact of 1%.</p>
<p>On a regional basis, revenues from the Asia Pacific region increased 2.4% year over year to $195.2 million. Revenues generated from Europe increased 7.1% to $179.4 million while the metric in the Americas decreased 1.2% to $287 million.</p>
<p>Nordson reports revenues under three segments. The segments are Industrial Precision Solutions, Medical and Fluid Solutions and Advanced Technology Solutions. A brief snapshot of the segmental sales is provided below:</p>
<p>Revenues from Industrial Precision Solutions amounted to $370.6 million, up 9.6% from the year-ago fiscal quarter&#39;s level. The segment contributed 56% to NORDSON&#39;s top line in the quarter.</p>
<p>Organic sales increased 3.6% from the year-ago fiscal quarter&#39;s level. Acquisitions had a positive impact of 7.4% while foreign currency translation had a negative impact of 1.4%.</p>
<p>Revenues from Medical and Fluid Solutions amounted to $166.7 million, down 2.4% from the year-ago fiscal quarter&#39;s level. The segment contributed 25.2% to Nordson&#39;s top line.</p>
<p>Organic sales decreased 2% from the year-ago fiscal quarter&#39;s level. Foreign currency translation had a negative impact of 0.4%.</p>
<p>Advanced Technology Solutions&#39; sales were $124.3 million, down 10.9% from the year-ago fiscal quarter&#39;s figure. The metric represented 18.8% of Nordson&#39;s revenues in the period.</p>
<p>Organic sales decreased 10.2% from the year-ago fiscal quarter&#39;s level. Foreign currency translation had a negative impact of 0.7%.</p>
<h3>Margin Profile</h3>
<p>Nordson&#39;s cost of sales increased 1.5% from the year-ago fiscal quarter&#39;s level to $292.6 million. Gross profit was $369 million, up 2.4% from the year-ago fiscal quarter&#39;s level. The gross margin increased 30 basis points (bps) to 55.8%.</p>
<p>Selling and administrative expenses increased 6.7% year over year to $201.9 million. Adjusted EBITDA was $208.1 million, the margin being 31%. Operating income was $167.1 million, down 2.3% year on year. Operating margin of 25.3% decreased 110 bps from the year-ago period.</p>
<p>Net interest expenses totaled $17.8 million, reflecting a 54.8% increase from the year-ago fiscal quarter&#39;s level.</p>
<h3>Balance Sheet &amp; Cash Flow</h3>
<p>At the time of exiting the third quarter, Nordson&#39;s cash and cash equivalents were $165.3 million compared with $115.7 million recorded at the end of the fourth quarter of fiscal 2023. Long-term debt was $1.4 billion compared with $1.6 billion recorded at the end of fourth-quarter fiscal 2023.</p>
<p>In the first nine months of fiscal 2024, Nordson generated net cash of $459.8 million from operating activities, down 3.8% from the last fiscal year period&#39;s tally. Capital invested in purchasing property, plant and equipment totaled $43.8 million, up 81% from the year-ago fiscal period.</p>
<h3>Dividends/Share Buyback</h3>
<p>In the first nine months of fiscal 2024, Nordson paid out dividends of $116.8 million, up 4.8% from $111.5 million in the same period of the previous fiscal year.</p>
<p>Treasury purchase shares amounted to $34.1 million in the first nine months of the fiscal year, down from $78.2 million in the last fiscal year.</p>
<h3>Outlook</h3>
<p>For fiscal 2024 (ending October 2024), Nordson anticipates adjusted earnings to be in the range of $9.45-$9.65 per share compared with $9.35-$9.75 predicted earlier. Sales are expected to be in the range of $2.665-$2.705 billion compared with $2.630-$2.680 billion anticipated earlier.</p>
<h2>How Have Estimates Been Moving Since Then?</h2>
<p>In the past month, investors have witnessed a downward trend in fresh estimates.</p>
<h2>VGM Scores</h2>
<p>Currently, Nordson has an average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.</p>
<p>Overall, the stock has an aggregate VGM Score of D. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.</p>
<h2>Outlook</h2>
<p>Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Nordson has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.</p>
<h2>Performance of an Industry Player</h2>
<p>Nordson belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, <strong>Applied Industrial Technologies</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ait#NYSE">AIT</a>), has gained 10.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2024.</p>
<p>Applied Industrial Technologies reported revenues of $1.16 billion in the last reported quarter, representing a year-over-year change of +0.2%. EPS of $2.64 for the same period compares with $2.35 a year ago.</p>
<p>For the current quarter, Applied Industrial Technologies is expected to post earnings of $2.28 per share, indicating a change of -4.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.5% over the last 30 days.</p>
<p>Applied Industrial Technologies has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.</p>
<p><a href="https://www.zacks.com/stock/news/2339318/why-is-nordson-ndsn-up-1-6-since-last-earnings-report?cid=CS-BENZ-FT-realtime_blog-2339318">To read this article on Zacks.com click here.</a></p>


Dividends

Buybacks

NDSN

Why Is Nordson Up 1.6% Since Last Earnings Report?

<p>Throughout the last three months, 8 analysts have evaluated Upstart Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), offering a diverse set of opinions from bullish to bearish.</p>
<p>Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts have recently evaluated Upstart Hldgs and provided 12-month price targets. The average target is $30.62, accompanied by a high estimate of $48.00 and a low estimate of $10.00. Surpassing the previous average price target of $22.38, the current average has increased by 36.82%.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1726855296_0.png" alt="price target chart" /></p>
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
<p>A clear picture of Upstart Hldgs's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Dan Dolev</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Outperform</td>
<td>$48.00</td>
<td>$33.00</td>
</tr>
<tr>
<td>Reginald Smith</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$30.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Ramsey El-Assal</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$35.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Reginald Smith</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$27.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Underperform</td>
<td>$10.00</td>
<td>$10.00</td>
</tr>
<tr>
<td>Arvind Ramnani</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$31.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Peter Christiansen</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$33.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Dan Dolev</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Outperform</td>
<td>$31.00</td>
<td>$17.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Upstart Hldgs. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li><strong>Rating:</strong> Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Upstart Hldgs compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts navigate through adjustments in price targets, providing estimates for Upstart Hldgs's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
<p>To gain a panoramic view of Upstart Hldgs's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/UPST/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Upstart Hldgs analyst ratings.</strong></a></p>
<h2>Discovering Upstart Hldgs: A Closer Look</h2>
<p>Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. Upstart's platform includes personal loans, automotive retail and refinance loans, home equity lines of credit and small dollar loans.</p>
<h3>Financial Milestones: Upstart Hldgs's Journey</h3>
<p><strong>Market Capitalization:</strong> Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.</p>
<p><strong>Negative Revenue Trend:</strong> Examining Upstart Hldgs's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately <strong>-5.99%</strong> in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.</p>
<p><strong>Net Margin:</strong> Upstart Hldgs's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of <strong>-42.68%,</strong> the company may face hurdles in effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> Upstart Hldgs's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of <strong>-9.02%,</strong> the company may face hurdles in achieving optimal financial returns.</p>
<p><strong>Return on Assets (ROA):</strong> The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of <strong>-2.91%,</strong> the company may need to address challenges in generating satisfactory returns from its assets.</p>
<p><strong>Debt Management:</strong> Upstart Hldgs's debt-to-equity ratio is below the industry average at <strong>1.63</strong>, reflecting a lower dependency on debt financing and a more conservative financial approach.</p>
<h2>What Are Analyst Ratings?</h2>
<p>Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.</p>
<p>Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.</p>
<p><strong>Which Stocks Are Analysts Recommending Now?</strong></p>
<p>Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights"><strong>Click here to stay ahead of the market</strong></a>.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


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